Tag: tax system
3 persistent myths about workers and income. The Census Bureau’s annual report on trends in household income always provides an opportunity to compare facts with perceptions. Theses misconceptions relate to what it means to be in the top 50%, the growth in income and earnings over time, and in inequality in the distribution of incom…
Warren Buffett has been making the point whenever possible that he pays a smaller percent of his income to the federal government than his secretary. President Obama regularly incorporates the plight of Mr. Buffet and his secretary into his speeches. The problems with Mr. Buffet’s statement are twofold: 1) his tax situation is not representativ…
